The Cooperative Endeavor Agreement between Louisiana Economic Development and G-Unit Film & Television for funding of up to $50 million dollars has requirements for funding of the proposed G-Unit Dome.
Here is a summary:
1. The Dome component of the agreement is defined as “the design, construction, and equipping of an approximately 30,000 square foot metal framed sphere shaped multi-use event center with outdoor LED or projection display capabilities surrounded by green space with an estimated capital expenditure of approximately $22 million.”
2. The initial plans are for 20% of the funds to be reimbursed by LED are for the G-Dome is $10 million
3. G-Unit has the right to re-allocate the expenditure of its funds and reimbursement by the state for the G-Domes up to $12.5 million.
4. G-Unit is required to host at least a combined 26 live events annually in the Stage Works building and the Dome. “Live event” is defined as “any event in which individuals are invited and are present to view a live performance as an audience, it being agreed that events only involving employees of G-Unite or its affiliate shall not constitute a live event.”
5. G-Unit is required to make the Dome available to the City and the State for hosting events at least four (4) weekdays and two (2) weekends per year subject to customary reasonable terms and conditions such as paying all utilities and other costs, but NOT any rent, use, license or similar fees. The City and the State split the four (4) weekdays and two (2) weekends allocated.
6. G-Unit is required to make the exterior roof of the Dome available at no cost to the City and the State, respectively, for the purpose of marketing for a combined total of eighty (80) days, with 20 days of marketing annually for a total of four years. The roof of the Dome is intended to be a rolling, ticker tape “reader board” type and as such the City or State advertising shall be shared with other announcements and projections from G-Unit and third parties.
The agreement has many more provisions concerning funding, which will be explained in future columns.
John came to Shreveport in January of 1977 when he was transferred to Barksdale AFB.
He’s been active in Shreveport politics since deciding to make Shreveport his home.
John practiced law for 40 years and he now monitors local politics. He regularly attends Shreveport City Council and Caddo Parish Commission meetings.
John is published weekly in The Inquisitor, bi-monthly in The Forum News, and frequently in the Shreveport Times.
He enjoys addressing civic groups on local government issues and elections.